EV Insurance Cost - Post your insurance bills to compare?

[alarmguy]

Not sure if anyone will respond. But we talk about the cost savings in fuel for some, especially in high fuel cost states.
Where I live both gasoline and electricity is dirt cheap so neither is a factor.

We purchased a 2025 Chevy Gasoline Equinox last week. We also sat in and played with the 2025 Chevy EV Equinox.

Im curious because I feel ( I could be wrong) that the EV proponants never post their insurance cost or even better their insurance bill. If we are to truly compare costs (only for those that do) why do we not?

All insurance in my life is dirt cheap, I never file claims, maintain a credit score well above 800. But everything I read about Tesla insurance says the average is over $2000 a year? I actually went to my insurance company yesterday and entered a Tesla Vin I found on line to find out how much to insure it and what do you know? It didnt give me the price! *LOL* Darn thing is being added to my policy. I quickly sent an email and have to check to make sure they canceled that!!!
Anyway, I was thinking of trying another site to get an idea of the price without adding it to my policy!

I think because the GM EV Equinox would be too soon to get an accurate price unlike Tesla that has a track history and why I tried Tesla.
Anyway, because my wife chose the gas Equinox that is what we now own. I have full coverage on it, including uninsured, under insured etc etc 250/500 and comp and collision 1k deductible, cost is $596 a year, $298 every six months. To me it sounds like I would be paying at least $1000 more a year if it was an EV such as Tesla.

Any takers on the challenge to post their EV insurance?

 

[cptbarkey]

All insurance in my life is dirt cheap

That must be nice. What happened when you googled "EV insurance costs" ?

 

[JeffKeryk]

2024 Model 3 Performance
For comparison, the 2021 RX450 F Sport is $327 ad the 2013 GS350 F Sport is $568. The cost increased because a friend opened the door in a parking lot on our 1st Model 3 as another car was pulling in to the next stall. Insurance paid to fix the minor damage to their car.
Of course the fuel cost for the Tesla is a huge win because it serves to maximize the ROI of the solar panel investment.

 

[alarmguy]

That must be nice. What happened when you googled "EV insurance costs" ?

Source - https://www.insurance.com/auto-insurance/tesla-insurance

 

[IndyIan]

I just got a CAA quote for a 2022 Tesla Model 3 and it was $1400/year, my Focus with the same coverage is $550/yr. The Outback is $860.

 

[alarmguy]

2024 Model 3 Performance
View attachment 250846

Great post. I would assume I wouldnt pay as much as the national average either as even with gas I am much lower. I assume you have an umbrella coverage because that liability is very low.
For others we know you have multiple cars and that may play a certain role too. Being two in the household with 4 cars? I cant keep track of you!

 

[JeffKeryk]

Great post. I would assume I wouldnt pay as much as the national average either as even with gas I am much lower. I assume you have an umbrella coverage because that liability is very low.
For others we know you have multiple cars and that may play a certain role too. Being two in the household with 4 cars? I cant keep track of you!

Yes, house is covered too. Policies are being cancelled in CA like crazy. Just gave a friend our beloved 2006 TSX which was cheap to insure.
AG, don't tell anyone, but at 71 I am not as young as I used to be...

 

[alarmguy]

Yes, house is covered too. Policies are being cancelled in CA like crazy. Just gave a friend our beloved 2006 TSX which was cheap to insure.
AG, don't tell anyone, but at 71 I am not as young as I used to be...

OMG, I had no idea! 71 my lips are sealed
Yeah, I suspect I wouldnt pay anywhere near the published numbers for an EV since I do not pay near the published numbers for gasoline.
I think you may agree about personal responsibility has rewards.

 

[Trav]

2024 Model 3 Performance
For comparison, the 2021 RX450 F Sport is $327 ad the 2013 GS350 F Sport is $568. The cost increased because a friend opened the door in a parking lot on our 1st Model 3 as another car was pulling in to the next stall. Insurance paid to fix the minor damage to their car.
Of course the fuel cost for the Tesla is a huge win because it serves to maximize the ROI of the solar panel investment.
View attachment 250846

Is that subsidized through Tesla themselves?

 

[cptbarkey]

I think you may agree about personal responsibility has rewards.

Yes but behind that thought is numbers, location and actuaries.

 

[dogememe]

Our insurance is pretty expensive. I share a policy with my partner. We have three cars on there, two of which are EVs.

Before, when I had my own insurance on just the 2017 Bolt, it was about $200/mo.

 

[Hermann]

Just got done with auto insurance. Amer Family is still over $200 higher than Geico for my hybrid. My Geico went up $14 to $546. My American Family agent says the company still hates EV's and hybrids and punishes them. They wanted $787 for same coverage. $932 w/ umbrella coverage. Needless to say I'm still with Geico. Plus Geico gave me great service last year when I had $8100 hail damage claim.

 

[edyvw]

I went to Progressive, and for my ZIP it does not want to give quote for EV's. They want you to call them. I tried several. Gas, no problem.

 

[JeffKeryk]

Is that subsidized through Tesla themselves?

Tesla does offer insurance, but this is Costco Connect. Been with them for years. You can get a quote through the Costco website.
I pay like $125 for 6 months on the Tundra, but that does not cover collision.

I've never checked out Tesla's rates. I doubt they could touch my overall coverage, including the house.

The Tesla rate went up when I cut loose the TSX because wifey's primary is the GS and the 3 is mine. Annual miles are still low because I am retired and we fly if we are going any real distance, like San Diego or wherever.

CA insurance is not exactly known for its low rates, especially Silicon Valley with our congestion.

Costco Connect Insurance

 

[alarmguy]

Tesla does offer insurance, but this is Costco Connect. Been with them for years. You can get a quote through the Costco website.
I pay like $125 for 6 months on the Tundra, but that does not cover collision.

I've never checked out Tesla's rates. I doubt they could touch my overall coverage, including the house.

The Tesla rate went up when I cut loose the TSX because wifey's primary is the GS and the 3 is mine. Annual miles are still low because I am retired and we fly if we are going any real distance, like San Diego or wherever.

CA insurance is not exactly known for its low rates, especially Silicon Valley with our congestion.

Costco Connect Insurance

Costco at your recommendation worked out well for us last year when we moved to a new state. This renewal they raised us 15%.
I switched to Progressive and now way lower. Last year Progressive wasnt as good.
Choices are great and the internet is our friend if people use it.

Rates vary and as you know I check multiple companies all the time to keep them all in check. I would still recommend anyone check Costco connect and of course at least 3 other companies. Geico, Progressive and _____ to name just a few.

 

[edyvw]

Costco at your recommendation worked out well for us last year when we moved to a new state. This renewal they raised us 15%.
I switched to Progressive and now way lower. Last year Progressive wasnt as good.
Choices are great and the internet is our friend if people use it.

Rates vary and as you know I check multiple companies all the time to keep them all in check. I would still recommend anyone check Costco connect and of course at least 3 other companies. Geico, Progressive and _____ to name just a few.

If you tie a house with cars, it gets cheaper, but also it is harder to move.
For example, I could get lower rate on cars compared to State Farm. Problem? Other companies want the % value of the dwelling as deductible when replacing the roof. They moved to this model after a big hail storm in 2016, which totaled 75,000 cars and created a shortage of home windows and roofs. State Farm wants $2,500. We are the hail capital of the US. And YOU WILL replace the roof every 5-10 years.

 

[demarpaint]

2024 Model 3 Performance
For comparison, the 2021 RX450 F Sport is $327 ad the 2013 GS350 F Sport is $568. The cost increased because a friend opened the door in a parking lot on our 1st Model 3 as another car was pulling in to the next stall. Insurance paid to fix the minor damage to their car.
Of course the fuel cost for the Tesla is a huge win because it serves to maximize the ROI of the solar panel investment.
View attachment 250846

Those are low liability limits imo, and around here too low to carry an umbrella policy. I wouldn't be surprised if that's the same case for other states too.

 

[Torrid]

It's always interesting to see, but I don't know how comparable it actually is since we're all in different locations which wildly affects the rates. This is what I'm at.

Per 6 months
2024 Model Y Performance - $697.74
2023 Model 3 RWD Standard Range Plus - $572.63

Coverages basically mirror JeffKeryK's limits above. I have emergency roadside through State Farm as well, but I don't what that includes for around a $1 every 6 months. I have every add on I could get in those cases with rental car at the highest option just in case something happened especially with my work needs. The last accident had me out of my car for 2 months.

For comparison's sake I did check Allstate last night because I realize I hadn't shopped around in awhile for insurance coverage. I don't remember the exact rate per car, but I do know combined it was $603 more every 6 months for the same coverage. It was still slightly more expensive with the lowest comprehensive limits. I didn't bother to keep shopping at that point.

 

[demarpaint]

Costco at your recommendation worked out well for us last year when we moved to a new state. This renewal they raised us 15%.
I switched to Progressive and now way lower. Last year Progressive wasnt as good.
Choices are great and the internet is our friend if people use it.

Rates vary and as you know I check multiple companies all the time to keep them all in check. I would still recommend anyone check Costco connect and of course at least 3 other companies. Geico, Progressive and _____ to name just a few.

I make it a point now to price shop insurance once a year. With all the storms the past few years rates are rising more than usual, and with insurance companies familiarity breeds contempt imo. Shopping helps keep them honest.

 

[Torrid]

I make it a point now to price shop insurance once a year. With all the storms the past few years rates are rising more than usual, and with insurance companies familiarity breeds contempt imo. Shopping helps keep them honest.

Definitely something I should be doing more often. That's why I started looking last night. Mine happens to be cheaper still, but I don't think I'd checked in 5+ years before this. I had been with State Farm from 16 years old from Illinois to Arizona, around 8 years. When I moved to Nevada the rates were nuts and I switched. I didn't go back to State Farm until I moved to Wisconsin when they happened to be the lowest for me again. I did a lot of shopping around living in Las Vegas. I think I switched every two years for eight years.